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The ground-mounted facilities
consist of a C$240m construction credit facility with an 18-year term loan.

The financing process was
managed by The Bank of Tokyo Mitsubishi UFJ, Mizuho Corporate Bank, , Sumitomo
Mitsui Banking Corporation, Nordeutsche Landesbank and Siemens Financial as lead
arrangers, and included Raymond James Ltd., CIT Financial Ltd, and Laurentian
Bank of Canada.

The five projects –
Abitibi, Burk’s Falls West, Empire, Long Lake and Martin’s Meadows – have a
combined C$300m budgeted cost. Commercial operations are expected to begin this
year and the first half of 2015.

“Solar IV is one of the largest widely
syndicated Construction plus 18-year term loan bank deals completed in North
America for a solar project transaction," says Carmelo Restifo, director
at MUFG.